HB4854ham001 96TH GENERAL ASSEMBLY

Business & Occupational Licenses Committee

Filed: 2/4/2010

09600HB4854ham001 LRB096 16446 MJR 35516 a

AMENDMENT TO HOUSE BILL 4854

AMENDMENT NO. ______. Amend House Bill 4854 by replacing everything after the enacting clause with the following:

"Section 5. The Pawnbroker Regulation Act is amended by adding Section 15 as follows:

(205 ILCS 510/15 new)

Sec. 15. Temporary buying locations; unregistered buyers.

(a) For purposes of this Section:

"Temporary buying location" means a location used by an unregistered buyer, including, but not limited to, hotels and motels.

"Unregistered buyer" means an individual business, or an agent of an individual business, engaged in the business of purchasing from the public, scrap precious metals, including, but not limited to, jewelry, precious stones, semi-precious stones, coins, silver, gold, and platinum, that conducts transactions at a temporary buying location but is not registered under this Act.

(b) An unregistered buyer that seeks to conduct business at a temporary buying location in this State must comply with all of the following:

(1) An unregistered buyer must register with the sheriff of the county at least 30 days prior to its intention to conduct transactions in that county.

(2) An unregistered buyer must submit by 6 a.m. each day to the sheriff of the county in which he or she is located detailed transaction records for the previous day, which must include purchaser, seller, and inventory information pursuant to subsection (b) of Section 5 of this Act.

(3) An unregistered buyer must pay a registration fee to the sheriff of the county in which it seeks to conduct business. This fee shall be used to defray the cost of reviewing the records required under this Section and may be apportioned as the sheriff sees fit.

Section 99. Effective date. This Act takes effect upon becoming law.".